White House Shoots Down Summers Report

WASHINGTON–The White House on Friday said reports in Japanese press that President Barack Obama has decided to name former Treasury Secretary Lawrence Summers as the next chairman of the Federal Reserve are wrong.

Amy Brundage, a White House spokeswoman on economic matters, said in an official White House Twitter feed that “the latest rumors this morning in the Japanese press aren’t true.” She said the president’s has not yet made a decision on who will be named to replace current ChairmanBen Bernanke.

>The Nikkei reported that Mr. Obama was going to name Mr. Summers, citing sources who weren’t identified by name. The news organization said the president was expected to announce the decision as early as next week.

The president’s possible choice to replace Mr. Bernanke has been under intense scrutiny, with lawmakers and economists lobbying for their favorite candidates. In addition to Mr. Summers, another top contender for the post is Janet Yellen, vice chairwoman of the Federal Reserve.

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